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Criteria NON-PRIME  ≤ 80% NON-PRIME >80%
NonQM Profile Category Fresh Start; Low Score; Non Warrantable Condo Fresh Start; High LTV; Non Warrantable Condo
Documentation Full Full
Maximum Loan Amount 1MM 750K
Loan Term/Mortgage Rate Type 30 yr fixed or 5/1 ARM 30 yr fixed or 5/1 ARM
Interest Only N/A N/A
Bankruptcy Seasoning N/A N/A
DTI 40/50% Investment properties 50% 40/50%
Credit Score (min) 500 600
Foreclosure, Short Sale, Deed-in-Lieu No Seasonong 12 Months
Occupancy Owner-Occupied, Second Home or Investmnet Property Owner-Occupied
Min. Reserves 3 months, 6-12 months under certain circumstances 3 months, 6-12 months under certain circumstances
Residual Income (min) $1,500 $1,500
Max Payment Shock 350% 350%
Mortgage (or rent)  Payment History 120’s allowed in past 12 months               0x30 FTHB Max 1 x 30 x 12
Rent Free Eligible Eligible
Max LTV 80% 90%
Gift Funds Allowed Allowed
Max Cash in Hand $500K N/A
Non Warrantable Condos Available Available
Marketing 75% LTV for credit scores down to 500   80% LTV for credits scores at 540 Debt Consolidation up to 90% LTV
Operational Visit our website at www.angeloakms.com for rates (QuickQuote) or to get a Prequal for your borrower (Prequal Request) Visit our website at www.angeloakms.com for rates (QuickQuote) or to get a Prequal for your borrower (Prequal Request)

Angel Oak:

Bill Parnell
Direct: 925-726-9123
Email: [email protected]

Scenario Desk:

Susanna Carouthers
Direct: 330-338-7785
[email protected]

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